Modera Wealth Management LLC Decreases Stake in Facebook, Inc. (NASDAQ:FB)

Modera Wealth Management LLC reduced its position in Facebook, Inc. (NASDAQ:FB) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,840 shares of the social networking company’s stock after selling 72 shares during the period. Modera Wealth Management LLC’s holdings in Facebook were worth $355,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FB. Whitnell & Co. purchased a new stake in Facebook during the fourth quarter valued at approximately $26,000. Cordasco Financial Network raised its position in Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Signet Investment Advisory Group Inc. purchased a new stake in Facebook during the fourth quarter valued at approximately $39,000. Clean Yield Group purchased a new stake in Facebook during the second quarter valued at approximately $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in Facebook during the second quarter valued at approximately $41,000. Institutional investors own 62.44% of the company’s stock.

NASDAQ:FB traded down $4.29 during midday trading on Friday, hitting $177.75. The stock had a trading volume of 14,354,973 shares, compared to its average volume of 14,590,069. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a market capitalization of $519.35 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.06 and a beta of 0.99. The stock has a 50-day moving average of $193.38 and a 200 day moving average of $180.93. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Facebook’s revenue was up 27.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Facebook, Inc. will post 8.03 earnings per share for the current fiscal year.

A number of brokerages have issued reports on FB. Oppenheimer upped their price objective on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group upped their price objective on Facebook from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Moffett Nathanson upgraded Facebook from a “neutral” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Tuesday, June 11th. Mizuho upped their price objective on Facebook from $230.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on Facebook from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and forty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $220.92.

In related news, CAO Susan J.S. Taylor sold 1,134 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value of $210,300.30. Following the transaction, the chief accounting officer now owns 1,037 shares of the company’s stock, valued at $192,311.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $182.63, for a total value of $10,044,650.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,337,995 shares of company stock worth $248,254,692. 14.53% of the stock is owned by insiders.

Facebook Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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